Introduction People use mobile Banking apps every day, sometimes for hours at a time. They are interacting with their banking accounts, paying bills, transferring money between accounts, and making purchases. In order to develop customer trust in your product, you need to provide a solid user experience from the beginning. Your transaction history is one […]
Introduction Modern mobile banking applications must do two things: secure sensitive financial data and provide a consistent and easy experience. This may seem like an easy balance to strike, but it can be quite challenging. If your application has a weak login, then it is a potential security risk. If your application has a strict, […]
Introduction Usually, when creating a bank product, there isn’t a single large component that will significantly affect the price. Instead, it will likely be the combination of many small decisions that leads to a very high cost. Each of these decisions will need to relate to things like how many platforms you’d like to support, […]
Introduction In general, a successful mobile banking product will provide more than an attractive front end (i.e., user interface) that displays users’ current balance(s). Rather, it is a product built upon trust. Users typically rely on their mobile banking app to perform multiple functions, including checking direct deposit salary payments, moving money between different accounts, […]
Introduction For fintech startup founders, the initial focus of app development is on tangible, visible components: an idea product, onboarding screens, payment workflows, planning roadmaps, and launch times. These projects certainly have tremendous importance in the overall success of a fintech business. However, in reality, the most difficult-to-solve problems encountered during development are predominantly caused […]
Introduction The way that you develop your fintech app should be adapted for launch in a regulated environment. Compliance should not be added as a new workstream halfway through the delivery process. Also, you should never wait until just before launching your app to make compliance-related decisions, as making compliance-related decisions late in the delivery […]
Introduction Recovering from a delayed launch is possible; however recovering from production problems, such as a payment issue (bug), a broken KYC flow, or an update failing in production, is much harder. Founders and product leaders alike are faced with this overwhelming task of how to ship software quickly and remain competitive while maintaining user […]
Introduction The timeline, or at least the perceived timeframe for developing a fintech app Development, is probably the first question that founding team members will ask when they think about developing a new fintech product – “What is the estimated length of time/effort?”, which doesn’t help much because there are so many variables that affect […]
Introduction When users first use an app, they may exhibit forgiveness for the app’s early stage; forgiveness can extend to missing features, basic dashboarding functions, and sluggish onboarding processes when a user’s understanding of why/detail around this exists. In contrast, users seldom show forgiveness when faced with uncertainty about how/where their money is being handled, […]
Introduction When discussing the development of fintech applications, teams often look to architecture as their sole basis of technical choice and do not consider other factors; however, in reality, these architectural decisions are all based on business decisions first. The architecture that is selected affects how quickly your application can launch, how easily you can […]
Introduction Developing a mobile application to conduct financial transactions is similar to creating an airplane while the plane is already scheduled to fly! With this being said, users are looking for a seamless experience when using a financial product, regulators want your processes/proofs to be documented, payment partners need to feel safe with your security […]
Introduction Fintech companies have a unique and exciting challenge of building a product that can be delivered quickly in an increasingly competitive market but making sure they comply with all the regulations needed. The power of MVP first, scale later (provided you do not leave out compliance, security or operational readiness on the roadmap) works […]